Melania Trump and Javier Milei Sued Over Alleged Memecoin Scams; Is Trump Next?

First Lady and President Face Lawsuit Over Alleged Crypto Scams

A groundbreaking collective lawsuit has been filed, implicating former US First Lady Melania Trump and Argentine President Javier Milei. The plaintiffs allege that these prominent public figures lent an aura of legitimacy to a series of fraudulent memecoin schemes, ultimately leading to significant financial losses for unsuspecting investors.

At the heart of the alleged scheme is Benjamin Cow, the founder of the startup Meteora. The lawsuit contends that Cow and his associates orchestrated a sophisticated market manipulation operation, employing 'pump-and-dump' tactics. By leveraging the influence of high-profile individuals, they aimed to artificially inflate the value of certain cryptocurrencies before dramatically dumping their holdings, leaving ordinary investors to bear the brunt of the collapse.

The "Pump-and-Dump" Mechanism Unveiled

In the lawsuit, Hurlock v. Kelsier Ventures, Cow is identified as the principal architect behind this alleged criminal enterprise. The operation involved the coordinated issuance and subsequent sale of memecoins. Two notable tokens, MELANIA and LIBRA, launched in 2025, quickly became focal points of this alleged manipulation.

The MELANIA token, introduced in January 2025, experienced a meteoric rise in its initial days, only to plummet by a staggering 99% within weeks. Similarly, the LIBRA token, reportedly promoted by President Milei, saw its value crash by 90% mere hours after its launch. This pattern of rapid inflation followed by an almost complete collapse is a hallmark of 'pump-and-dump' schemes, where early investors and organizers profit at the expense of later buyers.

Blockchain Forensics Uncover Links

Compelling evidence supporting these allegations has emerged from an investigation conducted by Bubblemaps. Their analysis uncovered a direct link between the digital wallets used to launch both the MELANIA and LIBRA tokens and the infrastructure associated with Meteora. This discovery lends considerable weight to the claims of coordinated market manipulation.

Further investigation has revealed that Cow allegedly operated through intermediaries. These included Meteora co-founder Ming Yao and the Davis family, who, according to the plaintiffs, were instrumental in executing a series of manipulations across more than 15 different tokens under Cow's direction. It's a complex web of alleged deceit, designed to obscure the true nature of the operations.

Judicial Scrutiny and Investor Doubts

In August 2025, a judge ordered the unfreezing of $57.6 million related to the LIBRA token. However, the same ruling cast doubt on the overall success of the lawsuit, citing a low probability of the plaintiffs prevailing. This judicial caution highlights the intricate legal battles often associated with cryptocurrency-related disputes.

Benjamin Cow reportedly exited Meteora in February 2025, coinciding with the surfacing of details about the alleged fraudulent activities. He has thus far declined to comment on the unfolding situation. The legal proceedings are ongoing, and the full extent of the alleged fraud is yet to be determined.

The Shadow of TRUMP Token: A Stark Warning

The situation surrounding the MELANIA and LIBRA tokens is not an isolated incident. The TRUMP memecoin, reportedly connected to Donald Trump's family, has also experienced a dramatic downturn. Its market capitalization has shrunk by 91% from a peak of $12.8 billion in early 2025.

Despite endorsements from Donald Trump himself and his son, Donald Trump Jr., the TRUMP token has suffered a severe devaluation. Currently valued at a mere $1.2 billion, this represents a colossal loss for those invested at its zenith. This stark decline underscores the speculative nature of memecoins and the inherent risks involved, even when associated with prominent figures.

Collectively, the stories of MELANIA, LIBRA, and TRUMP tokens serve as a potent reminder of the widespread financial manipulations occurring in the digital asset space. They illustrate how the allure of celebrity endorsement can be exploited to create a facade of legitimacy for schemes primarily designed to extract liquidity from the market at the expense of the investing public.